Global Neurotech devices Market Overview:
Recent advancements in neuroscience have opened the way for cutting-edge applications that cognitively augment and improve humans in a variety of settings. Neurotechnologies are a branch of science and engineering in which the nervous system is linked to technological devices. Technical aids such as reading lenses, hearing aids, and walking frames have become commonplace in ageing communities. Medical assistive technologies have evolved into little aids, and their use is hardly debated in the majority of situations. Wearable neurotechnologies and brain-computer interfaces are now being used to measure real-time neuronal and physiologic impulses from the human body, and they have enormous potential for medical diagnostics, prevention, and action.
Growth Drivers
- Prevalence of Parkinson's Disease Cases
- Rising Geriatric Population
- Emergence of Advance and Effective Techniques
Market Trends
- Growing Investments in Healthcare Infrastructure
Roadblocks
- Lack of Trained Professionals
- High-Cost Expense
Opportunities
- Low Penetration in Emerging Economies Particularly in Asian Region
Challenges
- Fierce Competitive Pressure
- Regulatory Approval
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Abbott Laboratories (United States), Advanced Bionics Corp (United States), Stryker Corporation (United States), Axonics Modulation Technologies Inc. (United States), Boston Scientific Corp (United States), Cogentix Medical (United States), Cleveland Medical Devices (United States), LivaNova (United Kingdom), Medtronic (United States) and Natus Medical Incorporated (United States). Additionally, following companies can also be profiled that are part of our coverage like Neuronetics (United States), EndoStim Inc. (United States), Flow Neuroscience AB (Sweden), NeuroSigma (United States), Restorative Therapies Inc. (United States) and Zynex Medical Inc. (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Neurotech devices market by 2026. Considering Market by Disease, the sub-segment i.e. Parkinson's Disease will boost the Neurotech devices market. Considering Market by End Use, the sub-segment i.e. Diagnostics will boost the Neurotech devices market.
Latest Market Insights:
On 4th February, 2021 - Imperial College Fund Innovation Fund (ICIF) Invests £205K In Parkinson's Treatment Device, called “Charco Neurotech”. Charco Neurotech is a Non-Invasive Vibrating Device to Manage Parkinson’s Symptoms.
United States Food and Drug Administration “Neurological Devices” – USDA is the Key Regulatory Authority Responsible for Inspection, Classification and Labelling of the Neurological Devices Based on its Quality Standards. Any New Entrant or Manufacturer is Required to have Regulatory Approval from FDA for the Sale Across US.
What Can be Explored with the Neurotech devices Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Neurotech devices Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Neurotech devices
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Neurotech devices market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Neurotech devices market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Neurotech devices Manufactures, New Entrants and Investors, Neurotech devices Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.